Rosgeologiya has no money to repay the bonds

10:00; 11 September 2024 year

The state-owned company Rosgeologia has stated that it does not have the money to repay the bonds. Rosgeology also has no other sources of solving the problem.
The company is counting on government support.

On the eve of the Joint Stock Company &Rosgeologia» reported the risk of default on bonds maturing on 09/26/2024. The company placed an issue of 6 billion rubles in September 2021.

«At the moment, the issuer does not have cash and other sources to repay the bonds. The Issuer takes measures to find sources of repayment of bonds, including at the expense of state support funds. The Issuer plans to start negotiations with bondholders on making changes to the terms of the decision on the issue of bonds in terms of extending the maturity period. - follows from сообщения companies.

The state-owned company also indicated that its board of directors has not been formed, therefore, a decision by the board of directors on amendments to the decision on the issue of bonds is expected after the date of payment of the bonds.

Note that according to the results of the 1st half of 2024, there were 6.6 billion rubles in cash on the accounts according to RAS and 9.9 billion rubles according to IFRS.

In May, the media reported that &Rosgeologia» applied to the government for state support, fearing a reduction in the state order for exploration and blocking US sanctions, which would worsen its financial situation. It was noted that without support measures, annual

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